The British division of Standard Chartered Bank has introduced a new service—spot trading of cryptocurrencies for institutional clients. Currently, clients can conduct transactions with Bitcoin and Ethereum using the bank’s familiar interfaces.
This is reported by Business • Media
Integration of Cryptocurrencies into Banking Infrastructure
The spot trading service for digital assets is available during the operating hours of European and Asian markets. Should demand increase, the bank is prepared to switch to a 24/5 operating mode. The new service is integrated into existing currency trading tools, allowing clients to operate through familiar platforms, while settlements can be made through a custodian of their choice, including the bank’s internal service.
“Standard Chartered is the first global systemically important bank to offer trading in crypto assets. For us, institutional clients include financial institutions such as asset managers, investors, and large multinational corporations that are clients of our corporate and investment banking,” said Misho.
Plans for Service Expansion
Currently, the bank only offers spot trading of Bitcoin and Ethereum, but Standard Chartered has already expressed its intention to expand the list of available instruments in the future. This move is part of the bank’s strategy to develop digital financial services for institutional investors.
Previously, Standard Chartered entered into a partnership agreement with brokerage firm FalconX, further enhancing opportunities for institutional investors in the field of digital assets.